Evidence shows that companies’ efforts to keep these talented colleagues are not working. Executives assert that staff are most likely to leave for more money, but of course they are. Almost no one leaves a job for less. But stopping the talent drain requires understanding what drives employees to look for new work or to be open to offers they might not have actively sought. Whatever the root cause, money is not the solution. A better pay/benefit package and more flexible work arrangements are in a statistical dead heat among the retention tactics companies are using, well ahead of other interventions like training and culture-improvement programs, but, as cited above, almost half of companies say that what they are doing isn’t working.
It is also noteworthy that many traditional sources of talent are less effective than two that involve networking: employee referrals and LinkedIn.
Recruiting Methods
Recruiting Methods
Retained Search Firms Contingency Search Firms Staffing Agencies Temporary Staffing Agencies College/University Career… LinkedIn Job Boards… Employee Referrals Retained Search ir s Co tingency Search ir s Staffin ies Temporary Staffing ncies Coll ge/University reer Li In Job rds Employee Referrals
Not Effective Less Effective Neutral Effective Very Effective t ffective ective tral tive ery Effective
0%
20%
40%
60%
80%
100%
0% 20% 40% 60% 80% 100%
2021-2022 Mid-Market Talent Acquisition, Executive Compensation and Culture Study — Powered by Insperity I 15
Made with FlippingBook Learn more on our blog